Due Diligence Policy

Purpose

The purpose of this policy is to ensure that all applicants, partners, and beneficiaries of the UK Organization for Biotechnology and Computational Science (UKABCS) are credible, capable, and compliant with applicable laws and regulations. Due diligence is an essential step in safeguarding the resources of the organization and ensuring that support is directed only to trusted entities capable of delivering meaningful and sustainable scientific and societal impact.

Scope

This policy applies to all entities and individuals seeking funding, collaboration, or partnership with UKABCS, including but not limited to:

• Research institutions and universities
• Industry partners
• Philanthropic and charitable organizations
• Technology providers
• Individual applicants and principal investigators

Procedures

1. Institutional and Legal Verification

• Confirmation of legal registration and status of the institution or organization.
• Verification of tax compliance and adherence to relevant local regulations.
• Assessment of organizational governance structures and accountability mechanisms.

2. Capacity and Governance Review

• Evaluation of organizational capacity to deliver on commitments.
• Review of internal governance systems, including financial controls, transparency mechanisms, and accountability frameworks.
• Assessment of prior track record in research delivery and project management.

3. Reputation and Integrity

• Review of the academic and scientific reputation of the applicant or institution through prior publications, partnerships, and outputs.
• Screening for prior ethical, legal, or professional misconduct.
• Consideration of alignment with UKABCS’s values of transparency, equity, and scientific integrity.

4. Legal and Regulatory Compliance

• Verification of compliance with local and international laws, including data protection (GDPR), anti-money laundering, and research integrity standards.
• Confirmation that the applicant or partner operates in line with UK and international frameworks for ethical research.

5. Risk Assessment and Mitigation

• Identification of potential financial, operational, or reputational risks.
• Development of mitigation strategies, including conditional approvals or enhanced monitoring where required.
• Documentation of all risks identified and measures applied.

Documentation and Transparency

• All due diligence reports and supporting documents will be securely stored and maintained by UKABCS.
• Findings will be subject to internal review and oversight by the Board of Trustees.
• Where required, due diligence outcomes may be shared with regulators, auditors, or funders such as UKRI to demonstrate transparency and accountability.

Responsibilities and Obligations

• All applicants and partners are required to provide accurate, complete, and verifiable information during the due diligence process.
• UKABCS reserves the right to suspend or withdraw funding or partnerships if any misrepresentation, fraud, or non-compliance is discovered.
• This policy will be reviewed regularly to remain aligned with international best practices and evolving legal requirements.